Cardano Developer Requests Reduced Funding for Scaling and Bitcoin DeFi Expansion

The company behind the Cardano blockchain is seeking to reduce its funding dependency on the project's community treasury. Input Output has submitted nine proposals for a total of $46.8 million, focusing on scaling and expanding into Bitcoin DeFi. This reduced funding request is part of a plan to phase out dependency on community funds and transition to self-sustainability. The proposals include a consensus upgrade called Leios, which aims to increase transaction processing capacity, and a system called Pogun, which enables Bitcoin-based decentralized finance on Cardano. Voting on the proposals will take place from Tuesday to May 24, with roughly 1,000 elected delegates representing ADA holders making the decisions.